Acct 212 week 2 homework Study guides, Class notes & Summaries

ACCT 212 Week 3 Homework Assignment (volume 2) 100% Guaranteed pass

ACCT 212 Week 5 Homework – Practice: 1. Question: a. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. 2. Question: b. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. 3. Question: c. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round “Average Cost per unit” to 2 decimal places and all other answers to the nearest whole number.) 4. Questio...

ACCT 212 Week 5 Homework – Practice: 1. Question: a. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. 2. Question: b. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. 3. Question: c. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round “Average Cost per unit” to 2 decimal places and all other answers to the nearest whole number.) 4. Questio...

ACCT 212 Week 4 Homework Assignment Exam (elaborations) 1. Question: Select the appropriate provisions of the Sarbanes-Oxley Act (SOX) for each of the following descriptions. a. Executives must personally certify the company’s financial statements. b. Audit firm cannot provide a variety of other services to its client, such as investment advising. c. PCAOB establishes standards … to the preparation of audited financial reports. d. Lead audit partners are required to change every five years....

ACCT 212 Week 3 Homework. Question 1 Red Rentals Company faced the following situations: Journalize the adjusting entry needed at December 31, 2020, for each situation. Consider each fact sep arately. (Record debits first, then credits. Exclude explanations from any journal entries) Solution: Accrual accounting records the impact of a business transaction as it occurs. When the business performs a service, makes a sale, or incurs an expense, the transaction is recorded even if the business recei...

ACCT 212 Week 3 Homework. Question 1 Red Rentals Company faced the following situations: Journalize the adjusting entry needed at December 31, 2020, for each situation. Consider each fact sep arately. (Record debits first, then credits. Exclude explanations from any journal entries) Solution: Accrual accounting records the impact of a business transaction as it occurs. When the business performs a service, makes a sale, or incurs an expense, the transaction is recorded even if the business recei...

ACCT 212 Week 1 Homework (Collection) – Download For Revision Longhorn Corporation provides low-cost food delivery services to senior citizens. At the end of the year on December 31, 2021, the comp any reports the following amounts: Cash $ 1,400 Service revenue $71,200 Equipment 20,500 Cost of goods sold (food 54,100 expense) Accounts payable 2,700 Buildings 23,000 Delivery expense 3,300 Supplies 1,700 Salaries expense 6,200 Salaries payable 700 In addition, the company had common stock of $23...

Green Wave Company plans to own and operate a storage rental facility. Required: For the first month of operations, the company had the following transactions. For each transaction, describe the dual effect on the accounting equation. For example, in the first transaction, (1) assets increase and (2) stockholders’ equity increases.

1. Question: BelvidereSelf Storage purchased land, paying $160,000cash as a down payment and signing a $155,000note payable for the balance. Belviderealso had to pay delinquent property tax of $2,500, title insurance costing $5,500, and $11,000to level the land and remove an unwanted building. The company paid $52,000 to add soil for the foundation and then constructed an office building at a cost of $750,000. It also paid $53,000 for a fence around the property, $21,000 for the company sign nea...

ACCT 212 Week 4 Homework – Graded An A+ Select the appropriate provisions of the sarbanes-oxley act (sox) for each of the following descriptions. Executives must personally certify the compa ny's financial statements Corporate Executive Accountability Audit firm cannot provide a variety of other services to its clients, such as investment advising Non-audit Services PCAOB establishes standards related to the preparation of audited financial reports Oversight Board Lead audit partners are requ...